Asia top stories – weekly summary
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 12 August 2022.
High production costs erode Asian R-HDPE
As production costs of recycled high-density polyethylene (R-HDPE) blow moulding pellets remain high in Asia while demand stays lacklustre, sellers’ margins will continue to narrow in the weeks ahead.
Saudi Arabia’s Petro Rabigh Q2 net income
surges on higher refining margins
Petro Rabigh’s net profit surged by 93.2% year on year in the second quarter on the back of higher refining margins, the Saudi Arabia-based producer said.
VIDEO: China PE pipe grade demand to stay weak
on tepid piping works
Watch ICIS senior editor Hazel Goh discuss current developments in China’s polyethylene (PE) pipe grade black 100 market.
SE Asia palm biodiesel to see record export
volumes, healthy demand
Southeast Asia’s palm methyl ester (PME) export volumes are likely to climb to record highs in July and August, as several bullish factors boost buying interest.
VIDEO: China’s BDO prices halve on weak
Watch industry analyst Jady Ma share about the China BDO market, which has seen a slump on weak demand.
Saudi SABIC Q2 net profit up 3.8%; H2 margins
to stay under pressure
Saudi petrochemicals major SABIC posted a 3.8% year-on-year increase in second-quarter net profit, while it expects margins to remain under pressure in the second half of 2022.